BlackRock Digital Assets Head Says Firm’s Ethereum ETF ‘Underwhelming’ Compared to Bitcoin Product: Report

The head of digital assets at BlackRock, Robert Mitchnick, is reportedly saying that the spot Ethereum (ETH) exchange-traded fund (ETF) launched earlier this year by the global investment giant has attracted a lower volume of inflows relative to a similar Bitcoin (BTC) product.

The business publication Fortune cites Mitchnick saying that inflows into BlackRock’s iShares Ethereum Trust (ETHA) ETF are “underwhelming” relative to inflows into the monolith asset manager’s iShares Bitcoin Trust (IBIT) ETF.

According to the crypto assets tracking platform SosoValue, the cumulative net inflows into IBIT is $21.5 billion as of September 30th. As of the same period, the cumulative net inflows into ETHA is $1.15 billion.

Mitchnick, however, reportedly says that compared to the ETFs of traditional assets, the spot Ethereum ETF has proved to be relatively successful.

“It’s very rare that you see an ETF get to a billion Assets Under Management (AUM) in seven weeks, as ETHA did. In most cases, it takes multiple years to never for a new ETF to get to a billion.”

The report cites BlackRock’s head of digital assets further saying,

“With ETH, I think the investment story and narrative is a bit less easy for a lot of investors to digest, so that’s a big part of why we’re so committed to the education journey that we’re on with a lot of our clients. And so, you don’t expect them to ever be quite as large in terms of flows and AUM as their Bitcoin counterparts are. But it’s still a pretty good start.”

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post BlackRock Digital Assets Head Says Firm’s Ethereum ETF ‘Underwhelming’ Compared to Bitcoin Product: Report appeared first on The Daily Hodl.